Newbie from the Bay Area California

[Albert F.]

Hello everyone, My name is Albert, live in north California. I'm a cancer surviver in remission since 2012.I'd been interested in investing in real estate for awhile now and after seeing those late night infomercial from Carleton sheets and spending thousands on programs that didn't work I finally decided to start in 2008 with a single family home with a traditional way (mortgage loan) it was a shortsale for 500,s I got it for 420,s I was happy at the time because I was going to remodel it and sell it but the market took another hit and I ended upside down. I could not rented so I decided to move in and hold it til the value goes up, I got a loan modification because of my condition that helped me a lot. now it has equity and I feel more confident in going to try again in investing. I got burned by all these seminars and spent thousands in programs that didn't work for me. I don't even bother in going to seminars no more i got books on buying with no down payment, ect... Now here's the question, I consider my self a handyman but I'm the type of person that don't know if a deal is good or not when I see it because not too good with numbers some times or panic of over paying and I get into the too much analyzing that I get paralyze and do nothing. I need advise in how to start investing the right way. Flipping, hold and rent or wholesale. whats is better for a newbie like me, I was thinking in buying in Orlando Fl. But open for any suggestions. How do I start with my own cash or loans? Any honest advise is very appreciated. Thank you

[Tapan Trivedi]

Albert,

Hi. Congratulations on your remission ! If you can beat cancer than RE is just a puppy for you . Flipping , holding, renting, wholesale are all strategies . ALL OF THEM make you money in varying degrees of rewards and risk. According to me REI is the business of people, paper and property. What do you feel most comfortable with ? Eventually everyone does all three but in the beginning every newbie has an affinity towards atleast one of these.

If people was your answer and you are good at networking, follow up, working in service without sacrificing your margins then you would be best with strategies like wholesale and lease options.

If paper was your choice and you are good at raising money then probably being a hard money lender is your thing. Or multifamily and commercial where a lot of evaluating and spreadsheets but a single deal can get you out of the rat race.

If property was your thing then go to flipping . VERY RISKY if not done right but very rewarding if done right. 

Also your goals matter. If your goal is to make 1 million in 9 months and you are wholesaling - its like trying to climb Everest in a Pinto. But if you are trying to clear your gap funding problem then wholesaling is your vehicle. 

I am in Sacramento . We are the p;lace where the Bay Area goes for cash flow ! Write to me if you have any questions.

Sincerely,

Tapan Trivedi